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CASE STUDY Case Study


Portfolio > Los Castaños de Choloma

Los Castaños de Choloma
3,629-Unit, Low-Income Workforce Housing Community with Amenities in Honduras


Los Castaños de Choloma is a 3,629-unit, workforce housing community that provides safe and affordable homes to low-income families in Choloma, Honduras. With much of the low-income population living in informal, makeshift housing and often lacking basic services like clean running water, electricity, sanitary plumbing, and even sufficient shelter, our team sought to bring these basic living essentials to the Choloma workforce community. In partnership with the Overseas Private Investment Corporation (OPIC), a 27-year financing model was developed that would allow families with incomes of one-to-three times the minimum wage in Honduras to buy a basic, 380-square-foot home. Typically, individuals working in low-wage jobs in Central America cannot access the mortgage financing from local banks to purchase a basic house. The gated community provides a truly safe and secure atmosphere for families, encompassing a new elementary school, central playground, soccer fields, basketball courts, retail, daycare center, onsite police station, church, and bus terminal. CRC's interest in Los Castaños de Choloma was sold in 2016 to the project's local development partner.

PROJECT DATA
Address:    Colonia Las Mecetas 19 Ave. 14-15 Calle No. 1428
Choloma, Honduras,  
Architect:    HOLA Realty
Completion:    July 2015

PRESS RELEASES
Inter-Mac Wins OPIC Impact Award for Excellence in Development Finance
Inter-Mac Receives First Funding for Housing and Mortgage Development in Central America

RECOGNITION
2015 Communitas Award
2014 OPIC Impact Award